BWIN saved by World Cup betting fever

Internet betting and digital entertainment group Bwin.Party said customers having a flutter on the World Cup had kept profits on track.

PUBLISHED: PUBLISHED: 00:01, Wed, Jul 16, 2014

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BWIN World Cup bets soared as Casino games suffering[VETTA/ GETTY]

Bwin.Party said the World Cup, won by Germany, had driven a sales uplift in its sport betting division in the three months to June 30.

Betting volumes during the tournament, particularly in Italy, had been strong as had gross win margins.

Holland’s 5-1 drubbing of former champions Spain in the group stages and the number of games in the knock-out rounds that went to extra time and penalties helped

It said favourable results such as Holland’s 5-1 drubbing of former champions Spain in the group stages and the number of games in the knock-out rounds that went to extra time and penalties had helped.

Bets made with smartphones accounted for 35 per cent of sports betting revenues, up from 21 per cent last year.

Overall revenue performance was described as “mixed” with its poker and casino businesses suffering. Bingo delivered a solid performance helped by growing demand for its Foxy Bingo mobile app.

It now expects to make £24million cost savings this year. Chief executive Norbert Teufelberger said: “We remain confident about the full-year outlook.”